Asking Price: $165,000
Reason for possible Sale:
The sole shareholder had a career as business lecturer at Western University in London. In 2015 he’s father fell ill and decided to accept a reduced role from the University and start Enigma while moving back home to assist with the family.
Fortunately, his father made a complete recovery and the University has offered a full course load role in the fall. It makes more sense towards career development to focus on getting a tenured role with an University and so he’d like to move on from the business and focus on academia.
Unaudited Income Statement
For year ended May 31st 2017
Profit Before Tax $42,057
My general manager is extremely capable and has run daily operations for sometime now. She is able to coordinate the team, repair rooms, manage social media, take bookings, track hours and pretty much anything needed.
This has lead to the sell option being realistic, as ownership does not need to be involved in daily operations.
You are welcome to name a dollar price point or to name EBITDA multiple. (EBITDA stands for earnings before interest tax depreciation and amortization. This is the profit before tax line on the income statement. One traditional way to price a business is using a multiple of this figure.)
From this point, the process would mirror that our buying a property.
3. We would create a formal document making a conditional offer to purchase the business. The conditions would then create a period of time for you to inspect the business more formally and confirm your continued interest. Some potential conditions would include seeing it in person, seeing bank reconciliations, or any other concerns.
4. If all goes well at the end of the conditional period, the contract is executed in full
Lastly, it is important to note the staff has not been briefed on the potential sale so contact the business directly is not permitted. The General Manager is aware that the business is for sale however. PLEASE DO NOT CONTACT OUR NORMAL EMAIL OR PHONE NUMBER.
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